Terms & Conditions
The calculations provided are estimates only and do not constitute a quote or offer of finance. The packaged cost is based on the following assumptions:
- The product is a Novated Lease Australia arrangement.
- The inputs you provide, including your location, pay frequency, annual kilometres traveled, novated lease term, and annual salary.
- The calculated cost includes finance and estimated expenses for fuel, registration, insurance, servicing and repairs, tyres, and roadside assistance based on these assumptions, which may change by the time a lease quotation is provided.
- It includes potential GST and PAYG savings over the lease term.
- Vehicle prices used are based on the market value price of the vehicle including on roads.
Lease Terms
The lease term refers to the duration for which the vehicle will be leased. At the end of the lease term, a balloon payment (residual value) is required, with the value set by the ATO.
Novated Lease Term - Minimum Residual Payment
- 1 year: 65.63%
- 2 years: 56.25%
- 3 years: 46.88%
- 4 years: 37.50%
- 5 years: 28.13%
Pay Frequency
The selected pay frequency determines the calculation of lease costs for the corresponding period.
Budgets
Running costs include:
- Fuel (for petrol and diesel vehicles)
- Electricity (for electric and plug-in hybrid vehicles)
- Maintenance
- Registration and CTP (Compulsory Third Party insurance)
- Comprehensive motor vehicle insurance
- Tyres
These estimates are based on the annual kilometres driven and the term selected for the specific make and model of the vehicle.
Tax Rates
The income tax rates used are based on the current financial year applicable at the time of your calculation.
FBT Rates
The Fringe Benefits Tax (FBT) statutory rate applied is 20%.
Luxury Car Tax Rates
Luxury Car Tax (LCT) is imposed on vehicles with a GST-inclusive value exceeding the LCT threshold, at a rate of 33% on the amount above this threshold. The LCT applies to the portion of the car's value that surpasses the threshold. The calculator considers the current LCT rates in its calculations.
Estimated Savings
GST
Represents the estimated GST savings on the purchase price and running costs of the vehicle.
Income Tax
Tax savings are estimated using the Employee Contribution Method (ECM). These estimates do not account for your specific circumstances. It is advisable to seek independent financial advice to understand how salary packaging may impact your personal tax liability.
Packaged Cost
The vehicle cost component is based on the manufacturer’s suggested retail price driveaway (sourced from RedBook). Pricing may fluctuate daily due to market changes, including at the time of lease quotation. Specific vehicles may incur additional taxes or levies, such as luxury car tax. Optional extras are not included unless explicitly stated, and any additional extras will affect the vehicle cost.
Your individual circumstances have not been considered and will impact the overall cost and benefits of a novated lease. All vehicle pricing is indicative and intended to assist with vehicle selection. Orders and delivery times are subject to stock availability. Vehicle images are for illustration purposes only.
Additional Disclaimer
The examples provided are for informational purposes and to illustrate various scenarios. The results should not be considered a substitute for independent professional taxation and financial advice. This calculation does not account for any impacts on your superannuation guarantee or tax offsets to which you may be entitled. While every effort has been made to ensure the accuracy of these materials, Novated Lease Australia does not warrant or represent that the information is suitable for your specific circumstances or that it recommends any particular course of action.
